“Waiting For The Feds”
Intraday Investments Trading Summary for Monday, June 25, 2001
Since traders are anxiously awaiting the FOMC meeting on Wednesday, volume was a bit light today. This made it challenging to be aggressive in the markets due to the lack of follow-through that often occurs on low volume days. Nevertheless, we had a solid, profitable day today primarily due to trading short positions in the Biotech sector from our Stalk Sheet, which yielded positive results today.
We made eight round-trip trades today with 6 winners and 2 losers. Including the BBBY overnight short we covered today, we netted approx. 2.7 points profit on our intraday trades. Here they are: PDLI short + 1.53, HGSI short + 0.93, AMGN short + 0.71 (two entries), QLGC short + 0.24, GILD short + 1.05, PMCS long – 0.50, NETE short – 0.70, JNPR short - 1.15. In addition, we covered our BBBY overnight short for + 0.70 today.
We also entered EXDS long (unrealized gains of 0.30 so far) for a swing trade. In addition, we still are long DO, HAL, AETH and short NVDA, IBM July 110 calls, and NVDA July 85 calls.
Deron, Steve, and Ed
General Partners
intradayinvestments.com |
